Bicycle Accessories Market to Reach USD 28.6 Billion by 2032 | CAGR: 8.9% | DataHorizzon Research

Fort Collins, Colorado, Sept. 15, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Bicycle Accessories Market Size, Growth, Share, Statistics Report, By Apparel, By Component (Saddle, Bottle Holders, Locks, Air pumps, Kickstands, Mirrors, Pedal, Lights), By Types (Mountain, Road, Hybrid, Cargo), By Sales Channel (Online, Offline), By Region, and Segment Forecasts, 2023-2032.” 

According to DataHorizzon Research, The bicycle accessories market size at USD 12.3 Billion in 2022 and is projected to have USD 28.6 Billion by 2032 with a CAGR of 8.9%. The urbanization wave across the globe has resulted in heavy traffic congestion. Under this scenario, the adoption of other means of transport, and the cycle has become quite a popular choice of commuters in the city in the past few years.

The increase in the demand for bicycles and its accessories is growing due to transportation, health, and adventure activities. Also, the new additions and sales of spare parts for bicycles are increasing both for essential and comfort purposes. The maintenance and upgradation of the bicycles have created newer opportunities in the market for bicycle spare parts.

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Bicycle Accessories Market Report Highlights:

• The bicycle accessories market is projected to attain a CAGR of 8.9 % by 2032.

• Based on the component, bottle holders registered positive growth in the past and remained dominant in the following years. The saddles are expected to have a steady growth.

• Based on type, the road bicycle dominates the market. The increasing environmental concerns and the emission norms have led to growing sales. Cargo holds a significant market share.

• The offline channel dominates the market based on sales. The try-and-buy tendency of the audience is contributing towards its growth.

• Asia Pacific is a dominant bicycle accessories market, because of the large population base and the region being home to the world’s largest bicycle manufacturers. Also, the shift towards a clean and green environment has helped the region's development.

• North America is a dominant power generation market because of the region's shift towards renewable energy sources. Moreover, the increasing investments, along with the availability of robust infrastructure and high spending capacity on research and development, contribute towards market development in North America.

• The prominent players in the bicycle accessories market report include Avon Cycles, Hero Cycles, BSA, Garmin, DT Swiss, Campagnolo, Merida, Garmin, Accell Group and others.

Report Snapshot:

Segmentation Overview

The bicycle accessories market has been segmented into apparel, component, type, sales channel, and region. Based on the apparel, protection gear holds a significant market share and dominates the market. The usage of protection gear has been observed during long rides, and saves the rider from weather conditions and skin burns due to hot weather conditions. The shoes segment is growing at a significant pace.

Based on the component, bottle holders dominate the bicycle accessories market. These are available in different sizes and shapes and can be used according to the rider’s needs. The saddle segment holds a significant market share, it provides the convenience to carry extra load. Additionally, 3D-printed saddles add more comfort to the rider’s journey.

The bicycle accessories are divided into mountain, hybrid, road, and cargo based on the type. The road bicycle segment dominates the market. The increase in health consciousness and environmental concerns has led to the segment’s growth. The cargo bikes hold a significant market share, they are used for delivery services, food vending, inventory transportation, and other.

Based on the sales channel, the bicycle accessories are divided into online and offline. The offline segment dominates the market. The segment’s growth is attributed to a large number of people preferring to test the products before purchase. The online segment grows at a significant rate, the increase in internet penetration and availability across the globe has led to increased sales of bicycle accessories online.

Geographically, Asia Pacific is a dominant region in the bicycle accessories market due to the rapid growth of different industries. The regional growth can be attributed to an increase in sales of bicycles due to the large population base and the significant number of manufacturers, leading to an increase in sales. North America is expected to grow at a significant rate. The growth is attributed to the government's focus in the region towards lowering carbon emissions and levels of global warming.

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Key Developments in the Industry:

• The new Bumpair 2.0 is a self-inflating helmet that helps keep riders safe. The helmet does inflate itself when it is pressed and becomes compact when deflated. It saves a lot of space and can be integrated with the mobile app.

• The collapsible bicycle lock is a folding lock that is compact and highly portable. It extends up to 85 cm in length and is very handy to secure the bike.

• The Effetto Mariposa Giustaforza 2-16 Pro is the bike torque wrench with an adjustable L/R head and operates in a 2-16nm range. It has been updated to UNI ISO 6789:2017 standard to +/- 4%.

• The reTyre’s new bicycle tire is equipped with a zipper lining and has a selection of treads and skins which a user can clad on the existing tire. This allows the tire to work efficiently on rough terrains.

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Bicycle Accessories Market Report Segmentation:

Bicycle Accessories Market, By Apparel (2023-2032)

• Gloves
• Clothes
• Shoes
• Protection Gear

Bicycle Accessories Market, By Type (2023-2032)

• Mountain
• Hybrid
• Road
• Cargo

Bicycle Accessories Market, By Sales Channel (2023-2032)

• Offline
• Online

Bicycle Accessories, By Component (2023-2032)

• Saddle
• Bottle Holder
• Air Pumps
• Kickstand
• Mirrors
• Pedals
• Light

Bicycle Accessories Market, By Region (2023-2032)

• North America

• • U.S.
  • Canada

• Europe

• • U.K.
  • Germany
  • France
  • Rest of Europe

• Asia Pacific

• • China
  • Japan
  • India
  • South Korea
  • Rest of Asia Pacific

• Latin America

• • Brazil
  • Mexico
  • Rest of Latin America

• Middle East & Africa

• • UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa

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